Stock Market Watch: Sallah Holiday Drives Bulls Away
After a long sallah break that found many Nigerians taking sacrificial bulls by the horns, bearish sentiment returned to the Nigerian Stock Exchange today.
The All Share Index fell marginally by 20 basis points closing at 20,491.51 points.
FCMB, Stanbic and Unity were the only banks in the green today, bagging a total of 2.24%, 3.88% and 3.51% respectively.
Top-tier banks, GTB and UBA remained unchanged today whilst Zenith and First Bank lost 2.75% and 2.34% respectively.
All counters in the breweries sector remained unchanged with the exception of Nigerian Breweries that dropped a marginal 4 basis points.
Across Building materials, WAPCO shed close to the full 500 points allowed, whilst Cement Company of Northern Nigeria and Dangote Cement were up a cumulative 69 basis points.
The conglomerates went also to the bears today as Transcorp and UACN lost 3.39% and 1.65% respectively.
Over 240 million shares valued at N 2.43 Billion exchanged hands on the floor of the exchange today.
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